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AGCO Corp (NYSE:AGCO) shares slipped after the company reported worse-than-expected third-quarter results and lowered its 2024 outlook. AGCO reported a third-quarter net sales decline of 24.8% year over year to $2.599 billion, missing the consensus of $2.90 billion. Regional Sales: South America -47% YoY, Europe/Middle East -18.2% YoY, North America -21.8% YoY, and Asia/Pacific/Africa -11.7% YoY. Adjusted operating income slid 67% year over year to $143.8 million, and the margin contracted by 710 bps to 5.5%. The gross profit declined 35.4% year-over-year to $603.1 million, and the margin decl…

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